Wedbush slashes price target on Canoo Inc [GOEV] – find out why.

Canoo Inc [NASDAQ: GOEV] closed the trading session at $0.14. The company report on February 7, 2024 at 6:00 AM that Canoo Appoints Former NASA Chief Technology Officer Deborah Diaz and Veteran EV Transportation Leader James Chen to Board of Directors.

Canoo Inc.

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The stocks have a year to date performance of -45.22 percent and weekly performance of -9.10 percent. The stock has been moved at -68.09 percent over the last six months. The stock has performed -19.72 percent around the most recent 30 days and changed -48.22 percent over the most recent 3-months.

If compared to the average trading volume of 53.31M shares, GOEV reached to a volume of 71091149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Canoo Inc [GOEV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOEV shares is $1.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOEV stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Canoo Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 05, 2024.

The Average True Range (ATR) for Canoo Inc is set at 0.02, with the Price to Sales ratio for GOEV stock in the period of the last 12 months amounting to 301.79. The Price to Book ratio for the last quarter was 0.55, with the Price to Cash per share for the same quarter was set at 0.01.

GOEV stock trade performance evaluation

Canoo Inc [GOEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.10. With this latest performance, GOEV shares dropped by -19.72% in over the last four-week period, additionally sinking by -68.09% over the last 6 months – not to mention a drop of -85.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GOEV stock in for the last two-week period is set at 35.65, with the RSI for the last a single of trading hit 33.02, and the three-weeks RSI is set at 37.07 for Canoo Inc [GOEV]. The present Moving Average for the last 50 days of trading for this stock 0.2054, while it was recorded at 0.1451 for the last single week of trading, and 0.4159 for the last 200 days.

Canoo Inc [GOEV]: An insightful look at the core fundamentals

Canoo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.14 and a Current Ratio set at 0.17.

Earnings per share (EPS) analysis for Canoo Inc [GOEV] stock

With the latest financial reports released by the company, Canoo Inc posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.35/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 28.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GOEV.

Canoo Inc [GOEV]: Institutional Ownership

The top three institutional holders of GOEV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GOEV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GOEV stock with ownership which is approximately 5.8325%.